The world of cryptocurrency has seen its fair share of hacks and exploits, but a recent report by Immunefi sheds light on the lasting impact of these events. The study analyzed data from 191 hacks in 2024 and 2025, totaling $4.67 billion in losses. One of the key findings is that the damage caused by a hack does not stop with the initial theft.
According to Immunefi's research, even after the funds have been stolen, the project's token price continues to decline over several months. In fact, the median six-month decline was 61%, with 84% of hacked tokens failing to recover to their pre-hack price. This suggests that survival in the crypto market now depends not only on enduring the hack itself but also on weathering the subsequent six months.
The report highlights the importance of a project's treasury, financing base, and public scorecard being closely tied to its token price. A prolonged drawdown can cut directly into a company's runway, recruiting power, dealmaking leverage, and internal morale. The study notes that hacked projects often lose security leadership within weeks and spend at least three months in recovery mode.